5 Best Shipping Stocks that Pay Dividends

4. Matson, Inc. (NYSE: MATX)

Dividend Yield: 1.42%
Number of Hedge Fund Holders: 19

Matson, Inc. (NYSE: MATX) is a Hawaii-based container shipping company founded in 1882 and was formerly known as Alexander & Baldwin Holdings, Inc. It is ranked fourth on our list of 10 best shipping stocks that pay dividends. The company offers freight transportation of perishable commodities, cattle, packaged food and beverages, garments, building materials, and vehicles to retailers, manufacturers, and freight forwarders in Hawaii, Alaska, and Guam, and Micronesia Islands. In addition, the company provides logistic services such as multimodal transportation brokerage services. On April 22, the company declared a cash dividend of $0.23 per share payable on June 2021 to all shareholders. MATX has a PE ratio of 10.2.

The company has a market cap of $2.8 billion. The company’s revenue in the first quarter of 2021 came in at $711.8 million, up from $513.9 million in the first quarter of 2020. For the quarter ended March 31, 2020, the company earned $3.8 million in net income or $0.09 per diluted share. Shares of MATX climbed 126% over the past twelve months. 

At the end of the first quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $32 million in Matson, Inc. (NYSE: MATX), up from 14 in the preceding quarter worth $13.5 million.